For decades, some economists and commentators have been predicting that the real estate “bubble” will cause house prices to crash in Canada. With the Bank of Canada now continually hiking interest rates, could the decline some have been predicting be on the horizon? While some say the various factors putting upward pressure on prices—such as…
American Startups Facing a Tough Situation in 2023, With Little Sign of Relief
July 18, 2023
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Business & MarketsCompanieseconomic policieseconomyinflationInvestmentMarketsMedia & Big TechrecessionSilicon ValleystartupsTechTech NewsUSUS Newsventure capital
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It is becoming more apparent that American startups are facing a bad year, and financial relief is far from coming. Higher interest rates, a shaky U.S. economy, and the recent banking crisis have led to a shortage of funds for capital-hungry startups in their early stages, along with less opportunity for those in late-stage development…
Federal Reserve Not a Climate Policymaker, Says Central Bank Supervisor
Despite the Federal Reserve’s supervisory work related to the financial risks of climate change, the U.S. central bank is not a climate policymaker, says a supervisory and regulatory director at the institution. Dr. Michael Gibson reiterated Chair Jerome Powell’s remarks earlier this year that the Fed is not crafting climate policy. However, the central bank…
Biden’s Student Bailout May Cost Taxpayers $475 Billion: Penn University Study
July 18, 2023
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Business & MarketseconomyJoe Bidenloan bailoutPenn UniversityPolicies & ImpactsPoliticsstudent loansUSUS News
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President Joe Biden’s proposed income-based student loan repayment plan could cost $475 billion over a period of 10 years and end up encouraging “more loan borrowing” among college students, according to the University of Pennsylvania. Mr. Biden’s “Saving on A Valuable Education” (SAVE) scheme aims to reduce the income-based monthly payments on student loans by…
[PREMIERING 7:30PM ET] ‘A Fool’s Bargain’—Robert Lighthizer on the US-China Trade Relationship and How to Strategically Decouple
July 18, 2023
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American Thought LeadersBusiness & MarketsChinaChina Business & EconomyChina Newseconomic policieseconomyEpochTVFinance & Business Tiesfree tradeLive VideosRobert LighthizerSpecial TopicsTech CompetitionUS-China relationsUS-China TradeVideo
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“The economic growth of China is largely a wealth transfer from the United States,” says Robert Lighthizer. “You’re transferring the wealth of our children and grandchildren and their children overseas.” Mr. Lighthizer served as the U.S. Trade Representative in the Trump administration and also served as deputy trade representative in the Reagan administration. In this…
S&P 500 Inches Down as Investors Digest More Big Bank Earnings
The benchmark S&P 500 edged lower on Tuesday as investors digested earnings reports from top lenders Morgan Stanley and Bank of America, after the markets rallied last week in anticipation of the results and signs of inflation cooling. The Dow Jones Industrial Average rose 11.73 points, or 0.03 percent, at the open to 34,597.08. The…
Treasury Secretary Yellen Doesn’t Expect a Recession in US
July 18, 2023
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Business & MarketsChinaChina Business & EconomyChina Newseconomic policieseconomyinflationInvestmentJanet YellenNational SecurityPolicies & ImpactsrecessiontariffsThreat from Communist ChinaUSUS NewsUS-China relations
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U.S. Treasury Secretary Janet Yellen said during an interview that the U.S. economy would not be hit by a recession. While Ms. Yellen was in attendance at a G-20 summit in Gandhinagar, India, she told Bloomberg on July 17 that the United States was making good progress in bringing inflation down this year. Ms. Yellen…
Dollar Slips Towards 15-month Low, Euro Scales 17-month Peak
LONDON—The dollar drifted near a 15-month low against its major peers on Tuesday, as investors awaited fresh catalysts to gauge for downside in the wake of last week’s cooler-than-expected U.S. inflation. The U.S. dollar index, which measures the greenback against a basket of six currencies, fell as low as 99.587, languishing near Friday’s trough of…
Oil Inches Higher as Investors Eye US Crude Supplies
LONDON—Oil prices edged higher on Tuesday as investors weighed a possible tightening of U.S. crude supplies against weaker-than-expected Chinese economic growth. Both contracts fell more than 1.5 percent on Monday, following lacklustre Chinese data and the partial restart of some Libyan oilfields. Brent crude was up 51 cent at $79.01 a barrel by 0956 GMT,…
World Stocks Near 15-month High; China Data Weighs on Markets
July 18, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—World shares were steady near their recent 15-month highs and the dollar held close to a one-year low on Tuesday as investors paused to take stock of weak economic data from China and waited for U.S. retail sales data and earnings. Asian stocks fell earlier in the session as markets caught up with growth data…
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